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29 Jan 2026, 10:08
BITO: This Is Not An Income Fund
Summary ProShares Bitcoin ETF offers a headline 77% yield but is not a true income fund. BITO's high distributions are unsustainable, coming at the expense of NAV and dependent on Bitcoin price recovery. BITO lags other Bitcoin ETFs like IBIT in total return due to higher fees and a derivative-based structure. I rate BITO a 'sell' given distribution risk, lack of income strategy, and poor relative performance. The ProShares Bitcoin ETF ( BITO ) currently has an attractive dividend yield of 78% (TTM). But it isn't a typical income fund like the covered call offerings from the likes of YieldMax and GraniteShares. To be fair, it doesn't advertise itself as such, and the ProShares factsheet simply states BITO is the first ETF to target the performance of bitcoin This article looks at why the dividend is at risk and why income investors should stay clear. BITO history BITO was the first crypto ETF, launching in October 2021 just a few weeks before the top and significant bear market. The events were not connected, but it's interesting that BITO was able to launch much earlier than other crypto ETFs, as it did not invest directly in Bitcoin, but in derivatives such as futures and swaps. In any case, BITO was never designed to be an income fund, and its "dividend" derives from any profits when positions are rolled, as capital gains must be distributed for tax reasons. As a result, it did not pay a dividend until 2023 when Bitcoin finally started trending higher again. Seeking Alpha Even in 2023 and early 2024, there were missed dividends as presumably, there were no profits to distribute. Then in Q2 '24, distributions ballooned. In July, the fund announced it would change its name and remove the word "strategy." Oddly enough, it also looks like they changed their strategy as the distributions stayed high, and there have been no missed dividends since. I can't find any official documentation on this, but the change is quite evident on the chart above and in a comparison of BITO price and Bitcoin. TradingView Bitcoin and BITO prices used to correlate quite well until early 2024, but since then, the larger, regular distributions have taken a massive toll on price/NAV. The total return still correlates, but the chart below shows the return lags significantly. Data by YCharts Is the dividend at risk? It used to be the case that if Bitcoin had a few bad months, BITO would significantly decrease or even skip the dividend. But that hasn't happened despite four out of the last five months closing lower. CoinGlass The dividends are coming out of the NAV as BITO's NAV has fallen much more than the price of Bitcoin. Data by YCharts How can BITO do this? Or to put it another way, what determines the distribution amount? This is what ProShares says: The amount of each Fund’s monthly dividend distribution (if any) is intended to estimate the Fund’s current required calendar year distribution allocated equally over the remaining months of the calendar year. So, it's not strictly dependent on any profit/loss when contracts are rolled. Here's some more information: The monthly dividend distribution amount for each Fund, in general, can be expected to approximate the total of: FUND The previous month’s net investment income (does not include gains/losses from swaps on ETFs) included for such Fund (without regard to its subsidiary). Net investment income typically consists of interest earned on cash investments, such as U.S. Treasury securities, minus accrued Fund expenses. ((PLUS)) SUBSIDIARY The tax year/period-to-date net income (includes gains/losses from commodity/crypto futures) of the Fund’s subsidiary... For the Crypto Funds in 2026, this refers to net income earned during the subsidiaries two net income periods—October 1, 2025 through September 30, 2026, and October 1, 2026 through October 31, 2026. (MINUS) The net income previously paid as dividend distributions by the Fund during the current calendar year. (DIVIDED BY) The number of scheduled dividend distribution dates remaining in the current calendar year. This is followed by the disclaimer: Important Information: Actual Fund distributions may be different from amounts determined using the approach described above. It makes it very difficult to figure out what future distributions will be. However, if Bitcoin prices do not recover, it seems likely BITO will have to significantly reduce and even stop distributions before the end of the tax year/period of September 30th, 2026. Again, BITO does not advertise itself as an income fund, but the high-yield and steady distributions give the illusion that it can be regarded as one. That could change later this year. So it's just a play on bitcoin? BITO should be viewed as an alternative way to own Bitcoin. Back when it was launched in 2021, owning Bitcoin or trading futures were around the only options, so the ETF structure was a huge draw, even if the total returns lagged. However, there are now many alternative options, such as the iShares Bitcoin Trust ETF ( IBIT ) and they tend to outperform as they have fewer fees and they own Bitcoin through actual holdings rather than complex derivatives. Data by YCharts The launch of IBIT and other ETFs essentially made BITO redundant in early 2024. Perhaps some readers will be able to shed more light on this, but it seems BITO changed its strategy and started paying out much higher dividends out of NAV at this time to pivot towards becoming an income-focused fund and stay relevant. But as I said earlier, I can't find any official documents to prove this theory. Conclusion BITO provides a 77% yield and regular monthly payments. It sure looks like an income fund, but it is not at all comparable to other income funds like the NEOS Bitcoin High Income ETF ( BTCI ). There is no covered call income strategy, and ProShares doesn't even officially state an intention to provide income. I think there is a risk it significantly cuts or even suspends future payments if Bitcoin prices do not recover. Furthermore, it is a poor alternative to owning other Bitcoin ETFs as total returns significantly lag. I rate BITO a "sell. "
29 Jan 2026, 10:04
Bitcoin Challenges Traditional Catalysts: Dismantling the Dollar Myth
Weakening U.S. dollar traditionally boosted Bitcoin, but this correlation seems broken recently. Continue Reading: Bitcoin Challenges Traditional Catalysts: Dismantling the Dollar Myth The post Bitcoin Challenges Traditional Catalysts: Dismantling the Dollar Myth appeared first on COINTURK NEWS .
29 Jan 2026, 10:03
Evernorth Is Taking XRP to Japan and Korea. Here’s the Latest
A noteworthy development concerning Evernorth, a business with strong ties to the XRP ecosystem, has been highlighted by cryptocurrency analyst X Finance Bull after Asheesh, the company’s CEO, confirmed plans to expand into South Korea and Japan. According to the tweet, the confirmation came directly from the CEO during a recent podcast appearance, removing speculation and placing the expansion plans firmly on record. The statement positions the move as a deliberate strategy, emphasizing that Evernorth views these markets as central to its next phase of growth. EVERNORTH IS TAKING $XRP TO JAPAN AND KOREA. This isn't a rumor. The CEO Asheesh confirmed the expansion plan in a recent podcast. Here's why this matters Evernorth is Ripple-backed. Brad Garlinghouse and David Schwartz sit on the advisory board. They've already… pic.twitter.com/Pk0jbzglaR — X Finance Bull (@Xfinancebull) January 27, 2026 Ripple-Backed Structure and XRP Positioning X Finance Bull’s commentary highlights Evernorth’s institutional profile, noting that the company is Ripple-backed and supported by prominent figures within the XRP ecosystem . Brad Garlinghouse and David Schwartz are identified as members of Evernorth’s advisory board, which is said to align the firm with XRP-related infrastructure and long-term strategy The tweet further states that Evernorth has already accumulated a substantial XRP treasury position, suggesting that the company’s expansion plans are closely tied to its confidence in XRP’s role within cross-border finance and digital asset markets. Role of SBI Holdings in Regional Expansion A central element of the reported expansion is the involvement of SBI Holdings, described as a key backer of Evernorth and a major supporter of XRP adoption in Japan . The tweet references SBI’s existing use of XRP in remittance services through platforms such as MoneyTap and SBI Remit, presenting this established infrastructure as a foundation for Evernorth’s entry into the Japanese and Korean markets. In the attached video, the speaker underscores that having SBI as a backer is expected to accelerate expansion efforts, particularly due to SBI’s regional influence and experience operating within local regulatory and business environments. Japan and Korea as High-Liquidity XRP Markets X Finance Bull emphasizes that Japan and South Korea were not chosen arbitrarily. Both jurisdictions are described as markets where XRP is the second most traded digital asset after Bitcoin, reflecting deep liquidity and widespread retail familiarity. In the video, the speaker reiterates that XRP’s popularity in these countries is second only to Bitcoin, framing this as a critical factor in Evernorth’s decision-making. The presence of existing trading volume and market awareness is portrayed as reducing barriers to entry for institutional-focused initiatives. We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 Building an Institutional Layer on Existing Demand The tweet characterizes Evernorth’s strategy as building an institutional layer on top of already established retail demand. According to both the written commentary and the video remarks, the company intends to leverage local partners and on-the-ground resources in Japan and Korea to execute this plan effectively. The speaker stresses the importance of local relationships in these jurisdictions, noting prior business experience in Japan and describing SBI as a valuable partner in navigating regional markets. X Finance Bull concludes that the confirmation of these plans marks a defining moment for institutional XRP adoption, urging observers to recognize the significance of the development as it unfolds. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Evernorth Is Taking XRP to Japan and Korea. Here’s the Latest appeared first on Times Tabloid .
29 Jan 2026, 10:00
Why Bitcoin Everlight Keeps Appearing in Market Discussions Despite Bitcoin’s Volatility
Following its all-time high near $126,000 in October 2025, Bitcoin entered a period of sharp volatility. A single-day liquidation event on October 10 erased more than $19 billion in leveraged positions, accelerating a broader drawdown of roughly 30% by year-end. Since then, Bitcoin has stabilized into a consolidation range between the mid-$80,000s and high-$90,000s in early 2026. Futures open interest has declined by over 40%, US-based spot ETFs recorded net outflows in January, and short-term volatility has compressed relative to historical cycles. This post-deleveraging environment has shifted market discussions away from aggressive positioning and toward structure, access, and infrastructure. Within that shift, Bitcoin Everlight has continued to surface. Bitcoin’s Post-Deleveraging Phase Is Changing What Gets Attention Periods of consolidation tend to alter how market participants evaluate the Bitcoin ecosystem. With leverage reduced and directional conviction muted, attention often moves from short-term price action to systems that remain relevant across market conditions. Infrastructure discussions persist because transaction flow, settlement coordination, and operational scalability are not dependent on trend direction. This dynamic has been visible in previous Bitcoin cycles. After sharp drawdowns, conversations narrow to execution quality, survivability, and positioning ahead of the next expansion phase. In early 2026, those same filters are shaping which projects continue to appear in serious discussions. Bitcoin Everlight Is Being Discussed During an Early Access Window Bitcoin Everlight is entering these discussions while its network access remains in an early phase. Unlike Bitcoin itself, which has long completed price discovery, Everlight’s participation layer is still distributed through a staged presale rather than secondary markets. The BTCL token supply is fixed at 21,000,000,000 units, with 45% allocated to the public presale. That presale is structured across 20 stages, beginning at $0.0008 and progressing to $0.0110 in the final stage. This structure places infrastructure access ahead of broad adoption, a timing dynamic that no longer exists for Bitcoin’s base asset. In a market that has shifted from leverage-driven momentum to selective positioning, this early access component is one reason Everlight continues to appear in discussions focused on longer-term infrastructure exposure. Node Participation Connects Everlight to Ongoing Network Activity Everlight’s relevance is reinforced by how participation is structured. The network is operated by independent node participants who contribute directly to transaction routing and lightweight validation. These nodes are not Bitcoin miners and do not modify Bitcoin’s protocol or consensus. Bitcoin remains the sole settlement layer and source of monetary finality. To operate as a node participant, users must stake BTCL tokens. Node roles center on maintaining uptime, routing transactions efficiently, and participating in quorum-based confirmation. Compensation is distributed proportionally based on measurable contribution, including routing volume, uptime coefficients, and performance metrics such as responsiveness and successful transaction handling. A fixed 14-day lock period is applied to support predictable routing behavior. Participation tiers — Light, Core, and Prime — define routing priority and operational responsibility within the network. This structure allows infrastructure participation to remain relevant during both volatile and range-bound market conditions. Development Is Structured Around Phased Infrastructure Rollout Everlight’s development roadmap has also contributed to its persistence in market conversations. The project follows a phased approach that prioritizes infrastructure readiness and system validation. Early stages focus on protocol finalization, node architecture testing, and economic calibration under controlled conditions. Subsequent phases expand public node participation through testnet environments, introducing quorum confirmation testing and settlement anchoring simulations. Mainnet activation and broader ecosystem integration with wallets and payment tooling are positioned after these validation steps. This sequencing aligns with infrastructure-first development norms, particularly in a market that has become more selective following large-scale deleveraging. As part of its infrastructure disclosures, Everlight has published third-party security and identity verification materials, including the SpyWolf Audit and the SolidProof Audit , alongside team verification through the SpyWolf KYC Verification and Vital Block KYC Validation . Independent market commentary has also examined Everlight’s positioning, including the Crypto Nitro review , which discusses the project within the context of Bitcoin’s evolving infrastructure landscape. Why Everlight Persists in Market Conversations Bitcoin’s recent volatility has filtered out large portions of speculative activity, leaving a market environment shaped by lower leverage and more deliberate positioning. In that setting, infrastructure projects that combine early access, defined operational roles, and phased execution tend to remain visible. Bitcoin Everlight’s continued presence in market discussions reflects this shift. Its presale status, node-based participation model, and execution-focused roadmap align with how Bitcoin ecosystems are evaluated during consolidation phases, when structure and timing matter more than momentum. Secure BTCL early to participate in Bitcoin Everlight’s infrastructure layer: Website: https://bitcoineverlight.com/ Security: https://bitcoineverlight.com/security How to Buy: https://bitcoineverlight.com/articles/how-to-buy-bitcoin-everlight-btcl
29 Jan 2026, 09:53
XRP wallets worth $1M+ increase as big holders keep buying
Ripple’s XRP is drawing renewed attention among large holders, as the number of so‑called “millionaire wallets”, addresses holding at least 1 million XRP tokens, has begun rising again in early 2026, according to multiple on‑chain analytics platforms. On-chain data from analytics firm Santiment shows that since the start of the year, several wallets holding more than 1 million XRP have appeared or increased their balances, representing the first uptick in this metric since late 2025, following several months of decline. This increase has occurred even as XRP’s market price has remained relatively subdued. In a post on X, cryptocurrency analytics firm Santiment stated that the number of XRP “millionaire” wallets is increasing once again, even as the overall cryptocurrency market continues to struggle. On-chain data shows large XRP holders are returning The largest XRP holders are now making a comeback after several months of decline. This comes after the cryptocurrency’s largest holders sold heavily towards the end of last year. Santiment reported that 42 addresses holding at least 1 million XRP have returned to the ledger since January 1. This is the first increase in these large addresses since September and represents the end of the decline that occurred in late 2025. This change follows a sharp decline in large XRP wallets from October to December, in which 784 “millionaire” wallets left the network as selling pressure increased and prices stabilized. However, since the beginning of 2026, this trend has been reversing, according to Santiment, which noted that large wallets appear to be entering the market rather than reducing their positions. This is happening despite the fact that the price of XRP is down about 4% year to date. This is an encouraging sign for the future, as large wallets often move before the market. With XRP trading around $1.87, every wallet containing at least 1 million units is worth an impressive $1.87 million. This shows the enormous amounts of money that are being transacted in the recent acquisition of these digital currencies. Market players are always monitoring the activities of large investors because they tend to be more concerned with the long-term than the short-term market situation. Thus, the buildup of large XRP holdings during a market lull can be interpreted as an indication that large investors expect favorable conditions in the future, despite the current negative market sentiment. On the other hand, views on XRP’s short-term prospects are highly polarized. In a recent post on the X platform, crypto trader CW stated that XRP is on the brink of a massive selling wall and that strong buying pressure could push the price to $2.30 if it overcomes key resistance levels. Analysts disagree on where XRP’s price will go as fear grows in the market Analysts remain divided on XRP’s future as fear persists in the market and Bitcoin continues to lead cryptocurrency trading. However, a few indicators suggest renewed interest in the token. Large investors are slowly building up their holdings, but overall indicators suggest they remain cautious about taking on more risk. According to data provided by blockchain analytics company Nansen , the percentage of ‘smart money’ investors increasing their XRP holdings has risen by 11.55% over the past month. These types of consistently profitable traders appear to be increasing their XRP positions even as overall market sentiment remains bearish. Others remain more cautious. Swyftx lead analyst Pav Hundal observed that XRP’s price movements may rely too heavily on storytelling rather than sound fundamentals. He warns that the price may face near-term pressure if unexpected events occur during the US CLARITY Act’s voting process. However, broader market signals continue to suggest a nervous sentiment. The CoinMarketCap Altcoin Season Index currently reads 31 out of 100. This indicates Bitcoin’s strength in comparison to altcoins over the past 90 days. At the same time, the Crypto Fear & Greed Index currently reads in the “fear” zone. This suggests that investors are still apprehensive about entering the market to buy coins like XRP. The smartest crypto minds already read our newsletter. Want in? Join them .
29 Jan 2026, 09:41
Ex-Ripple CTO Breaks Silence on XRP’s Origins with Unbelievable New Story
A casual X thread just rewrote Ripple lore as David Schwartz explained who likely named XRP's smallest unit and how the Ripple domain came from a Grateful Dead fan.
